Secured Portion definition

Secured Portion means, at any time, a portion of the Obligations consisting of the obligation to deliver cash or property with a value, as determined by the Calculation Agent (as defined in the Securities Contract), equal to the value, as determined by the Calculation Agent in a consistent manner, of the Collateral then pledged to the Beneficiary under the Pledge Agreement.
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Secured Portion means the Sterling Equivalent Amount of the Applicable Collateral Percentage of the aggregate outstanding amount available to be drawn down under the Letters of Credit.
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Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date, (b) with respect to Revolving Credit Loans (and excluding for the avoidance of doubt Letter of Credit Obligations, which are included in the Unsecured Portion), the sum of $487,500,000 minus the principal amount of the Secured Portion of Revolving Credit Loans that have been repaid after the Amendment Effective Date, and (c) with respect to Term Loans, the sum of $262,500,000 minus the principal amount of the Secured Portion of Term Loans that have been repaid after the Amendment Effective Date provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the other Credit Facility shall constitute the Secured Portion.>
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Examples of Secured Portion in a sentence

  • Such security may be enforced if the Issuer defaults on certain obligations under the Notes and, in such circumstances, any net proceeds realised upon enforcement of the security will be applied in or towards satisfaction of the claims of, among others, the security trustee (the "Trustee") and any appointee and/or receiver appointed by the Trustee in respect of the relevant Secured Notes before the claims of the holders of the relevant Secured Notes in respect of the Secured Portion.

  • If a Series of Notes is specified in the applicable Final Terms as being Secured Notes, the applicable Final Terms will also specify the proportion of such Note which is secured (the "Secured Portion").

  • Certain Notes ("Secured Notes") have the benefit of security granted by the Issuer over a pool of collateral (a "Collateral Pool") (which may be comprised of cash and/or government bonds and/or senior or subordinated debt obligations of specified entities).If a Series of Notes is specified in the applicable Pricing Supplement as being Secured Notes, the applicable Pricing Supplement will also specify the proportion of such Note which is secured (the "Secured Portion").

  • If a Series of Notes is specified in the applicable Pricing Supplement as being Secured Notes, the applicable Pricing Supplement will also specify the proportion of such Note which is secured (the "Secured Portion").

  • Class 5 consists of the Prepetition Term Loan Claims (Secured Portion).

  • Certain Notes ("Secured Notes") have the benefit of security granted by the Issuer over a pool of collateral (a "Collateral Pool") (which may be comprised of cash and/or government bonds and/or senior or subordinated debt obligations of specified entities).If a Series of Notes is specified in the applicable Final Terms as being Secured Notes, the applicable Final Terms will also specify the proportion of such Note which is secured (the "Secured Portion").

  • Class 4 consists of the Prepetition Credit Agreement Claims (Secured Portion).

  • Payment of Bifurcated Claim with Secured Portion Based on Collateral Value:The creditors listed below will be paid a secured claim through the Plan based upon the value of their collateral pursuant to 11 U.S.C. § 506 (“Collateral Value”) with present value interest pursuant to 11U.S.C. § 1325(a)(5) in the amount set forth below.

  • On the Effective Date and in addition to the reimbursement described in Article V.R of this Plan, each holder of an Allowed Prepetition Term Loan Claim (Secured Portion) shall receive, in full satisfaction, settlement, discharge and release of, and in exchange for, such Allowed Class 5 Claim, its Pro Rata share of 100% of the New Equity Interests Pool (subject to dilution by the New Management Incentive Plan Equity).

  • Israel has agreed to pledge certain collateral as security for the repayment of the Unguaranteed Secured Portion, as more fully described in Note 4.


More Definitions of Secured Portion

Secured Portion means, at any time, a portion of the Guaranteed Obligations consisting of the obligation to deliver cash or property with a value, as determined by the Calculation Agent (as defined in the Agreement), equal to the value, as determined by the Calculation Agent in a consistent manner, of the Collateral then pledged to the Counterparty under the Agreement; provided that if no Collateral is then pledged to Counterparty or Counterparty ceases to have a valid, first priority, perfected security interest in the Collateral other than as a result of actions of the Counterparty, there shall be no Secured Portion of the Guaranteed Obligations.
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Secured Portion means, in relation to any Covered Series, the portion of the Notes which have the benefit of the Security (as specified in the applicable Pricing Supplement or Final Terms);
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Secured Portion means, with respect to any Indebtedness under Section 6.01(a)(viii), either of the following as applicable: for 'European Options', up to the present value of the put strike; or, for 'American Options', up to the strike price."
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Secured Portion of the membership interests shall equal a percentage equal to 100 times (a) the original balance of the Promissory Note, less the sum of amounts paid in cash by Pledgor under the Promissory Note and the amount of gross cash proceeds received by Secured Party through sales of common stock obtained as payment or upon conversion of the Promissory Note, divided by (b) the original balance of the Promissory Note; provided however, that the Secured Portion shall not be adjusted downward below 10% until the time the Earnout Reconciliation has been finalized (the “Earnout Security Portion”). For example, if the original principal amount of the promissory note is $500 million, and $100 million has been paid in cash, then the Secured Party shall have a security interest solely in 80% of the membership interests in each of New Rise Renewables, LLC and New Rise Renewables Reno, LLC, calculated as 80% = 100* (500-100)/500. Notwithstanding the foregoing the Secured Portion of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company shall be all of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company until the initial payment is made under the Note. Upon completion of the Earnout Reconciliation, the remainder Earnout Security Portion and corresponding Collateral shall be released if it is determined that the Pledgor does not owe any further payment to the Secured Party as a result of the Earnout Reconciliation. If the Pledgor owes an additional payment pursuant to the Earnout Reconciliation, the security interest shall remain in the Earnout Security Portion and corresponding Collateral until such time it is paid by Pledgor and following such payment, released.
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Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date and (b) with respect to the Loan, the sum of $255,000,000 minus the principal amount of the Secured Portion of the Loan that has been repaid after the Amendment Effective Date, provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the Other Credit Facility shall constitute the Secured Portion.
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Related to Secured Portion

  • Secured Promissory Note is defined in Section 2.4.

  • Secured Property means the assets that are the subject of the security constituted by the Security Documents.

  • Senior Secured Loan Any assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under the Loan (subject to customary exceptions for permitted liens, including, without limitation, tax liens); (c) the value of the collateral securing the Loan at the time of purchase together with other attributes of the obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal seniority secured by a first lien or security interest in the same collateral; and (d) is not secured solely or primarily by common stock or other equity interests; provided that if such Loan is made to a parent entity that is secured solely or primarily by the stock of one or more of the subsidiaries of such parent entity to the extent that the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation secured is such Loan or any other similar type of indebtedness owing to third parties), then the limitation set forth in this clause (d) shall not apply with respect to such Loan.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

  • Subordinated Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

  • Applicable Unscheduled Principal Receipt Period With respect to the Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal Receipt Period specified on Schedule I hereto, as amended from time to time by the Master Servicer pursuant to Section 10.01(b) hereof.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Financing Period means the number of calendar days from, but excluding, the immediately preceding Reset Date to, and including, the current Reset Date.

  • Secured Rate Contract means any Rate Contract between Borrower and the counterparty thereto, which (i) has been provided or arranged by GE Capital or an Affiliate of GE Capital, or (ii) Agent has acknowledged in writing constitutes a “Secured Rate Contract” hereunder.

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Secured Party as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgement in the final sentence of Paragraph 8(a) and the representations in Paragraph 9.

  • Principal Prepayment Period The month preceding the month in which the related Remittance Date occurs.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • ABL Secured Parties means “Secured Parties” as defined in the ABL Credit Agreement.

  • Applicable Prepayment Percentage means, at any time, for purposes of Section 4.02(e) and the definition of “Retained Excess Cash Flow Amount,” 50%; provided that, so long as no Default or Event of Default is then in existence, if the Total Leverage Ratio is less than 3.50:1.00 as at the last day of the most recently ended Fiscal Year of the U.S. Borrower (as set forth in an officer’s certificate delivered pursuant to Section 8.01(d) for the Fiscal Year of the U.S. Borrower then last ended), the Applicable Prepayment Percentage shall instead be 0%.

  • Secured Promissory Note Record is a record maintained by each Lender with respect to the outstanding Obligations owed by Borrower to Lender and credits made thereto.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.

  • Senior Secured Credit Agreement means the Amended and Restated Credit Agreement dated as of July 31, 2008 among the Company, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders parties thereto from time to time, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 1111).